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Consolidated Balance Sheet as at 31 December 2005

Consolidated Balance Sheet as at 31 December 2005
All figures in millions Notes 2005 2004 2003
Assets
Non-current assets
Property, plant and equipment 11 384 355 402
Intangible assets 12 3,854 3,278 3,550
Investments in joint ventures and associates 13 36 47 64
Deferred income tax assets 14 385 359 342
Financial assets - Derivative financial instruments 16 79 - -
Other financial assets 15 18 15 21
Other receivables 19 108 102 100
Total   4,864 4,156 4,479
Current assets
Intangible assets - pre-publication 17 426 356 362
Inventories 18 373 314 319
Trade and other receivables 19 1,031 933 1,025
Financial assets - Derivative financial instruments 16 4 - -
Cash and cash equivalents (excluding overdrafts) 20 902 461 551
Total   2,736 2,064 2,257
Non-current assets classified as held for sale   - 358 -
Total   2,736 2,422 2,257
Total assets   7,600 6,578 6,736
Liabilities
Non-current liabilities
Financial liabilities - Borrowings 21 (1,703) (1,714) (1,349)
Financial liabilities - Derivative financial instruments 16 (22) - -
Deferred income tax liabilities 14 (204) (139) (140)
Retirement benefit obligations 24 (389) (408) (364)
Provisions for other liabilities and charges 22 (31) (43) (59)
Other liabilities 23 (151) (99) (70)
Total   (2,500) (2,403) (1,982)
Current liabilities
Trade and other liabilities 23 (974) (868) (943)
Financial liabilities - Borrowings 21 (256) (109) (578)
Current income tax liabilities   (104) (89) (54)
Provisions for other liabilities and charges 22 (33) (14) (18)
Total   (1,367) (1,080) (1,593)
Liabilities directly associated with non-current assets
classified as held for sale
  - (81) -
Total liabilities   (3,867) (3,564) (3,575)
Net assets   3,733 3,014 3,161

Equity
Share capital 25 201 201 201
Share premium 25 2,477 2,473 2,469
Other reserves 26 (328) (623) (410)
Retained earnings 26 1,214 749 709
Total equity attributable to equity holders of the Company   3,564 2,800 2,969
Minority interest   169 214 192
Total equity   3,733 3,014 3,161

These financial statements have been approved for issue by the board of directors on 26 February 2006 and signed on its behalf by

Rona Fairhead, Chief financial officer

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